Vitalik Buterin, the co-founder of Ethereum, is currently facing accusations of selling over $2 million worth of ether (ETH) for personal profit. The claims surfaced early Saturday, prompting Buterin to respond directly, explaining that his crypto sales are intended to support charitable endeavors and various Web3 projects.
Addressing the accusations on social media, Buterin clarified, “I haven’t sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (e.g., biomedical [research and development]).” This statement was meant to refute claims that he has been selling ETH to enrich himself.
Despite Buterin’s clarification, some social media users encouraged him to consider profit-making activities. One user on Twitter, now known as X, commented, “Don’t even defend it; you deserve the yacht, too.” This reflects a broader sentiment among some crypto enthusiasts who believe that successful figures in the industry, like Buterin, should also enjoy the fruits of their labor.
With a personal net worth exceeding $1 billion, Buterin has consistently emphasized that his involvement in the tech and crypto sectors is not motivated by personal wealth accumulation. Instead, he is driven by a desire to create value for the broader community and contribute to societal improvement through his work with Ethereum and other initiatives.
Buterin’s commitment to philanthropy is well-documented. During the Covid-19 pandemic, he became the largest donor to the CryptoRelief India Fund, contributing over $2 million in ether, $930 million in Shiba Inu coins, and various other altcoins to help provide pandemic relief in India. This significant donation demonstrated his willingness to use his wealth to support humanitarian efforts.
Earlier this month, Buterin also made headlines by donating half a million dollars to an animal welfare charity. Announcing the donation, he said, “Charity donation done, covering all animal coins from the past year or so! That said, I appreciate it if coin holdings just get allocated to the charities directly.” This gesture further highlights his ongoing commitment to using his crypto assets for good causes.
Buterin’s philanthropic activities and his transparent approach to handling his crypto holdings contrast with the accusations of profiteering. By focusing on funding projects that benefit the Ethereum ecosystem and supporting charitable causes, Buterin has positioned himself as a leader who prioritizes the greater good over personal gain.
While the recent accusations against him have sparked debate, many in the crypto community continue to view Buterin as a visionary dedicated to advancing the field of blockchain technology while also making a positive impact on the world. As the Ethereum network continues to grow and evolve, Buterin’s role in shaping its future—and his commitment to philanthropy—remains a topic of keen interest.
For now, Buterin remains focused on his mission to leverage Ethereum and blockchain technology for societal improvement, making clear that his primary motivation is far from personal enrichment. As the debate around his recent actions continues, it is evident that his dedication to supporting meaningful projects and charitable efforts will remain a central theme in his career.